Market Update Report 2/7/2017

The KUIK Market Update for Tuesday, February 7:
 
Markets are up.
 
Index Direction Change Units   Time    
Dow Up                     88  points            20,141 8:08 AM    
S&P500 Up 0.3% percent             2,298      
Nasdaq Composite Up 0.4% percent             5,688      
30 Year Treasury Unchanged                      –   Basis Points               3.05 Annual Yield    
 
President Trump’s pick for labor secretary,Andy Puzder, said yesterday that he had employed an undocumented housekeeper but plans to continue  with confirmation. In a statement from a spokesman, Puzder said he employed a housekeeper for a few years, during which he was unaware that she was not legally permitted to work in the U.S. When he learned of her status, he immediately ended her employment and offered her assistance in getting legal status, paid back taxes to the IRS and the State of California, and submitted all required paperwork. Puzder is chief executive of CKE Restaurants, parent company of the Carl’s Jr. and Hardee’s burger chains.
 
The Labor Department reports there 5.5 million job openings on December 31st.   5.3 million people were hired during the month, up from 5.2 million in November. Fewer people quit voluntarily in December: 3 million compared to 3.1 million in November.
 
The Commerce Department reports the U.S. trade deficit rose slightly in 2016 to $502.3 billion, hitting the highest level in four years, the result of a strong dollar and a weak global economy. The last time the country ran a surplus was in the mid-1970s when Gerald Ford was president.
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/labor-nominee-andy-puzder-admits-hiring-undocumented-housekeeper-2017-02-06
http://www.marketwatch.com/story/job-openings-little-changed-but-hires-rise-for-fourth-straight-month-2017-02-07
http://www.marketwatch.com/story/us-trade-deficit-hits-highest-level-in-four-years-2017-02-07
 
 
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